OECD Report Shows Rise Of Internet Services

Internet firms continue to drive global economic growth and job increases in the information technology sector, the Organisation for Economic Cooperation and Development (OECD) found in a new report.

The report provides details on the rise of employment in the ICT sector, led by internet firms such as Amazon and Google, but also provides a number of other data such as revenue earned and projections.

“Total worldwide ICT spending is estimated to reach USD 4 406 billion in 2012, of which 58% (USD 2 572 billion) is on communications services and equipment, 21% (USD 910 billion) on computer services, 12% (USD 539 billion) on computer hardware and 9% (USD 385 billion) on software,” the report found, according to an OECD press release. “Estimates suggest that in 2012, software spending will increase more rapidly (by 7.6% a year) than computer hardware (6.1% a year), as hardware prices continue to fall. Spending on communications, both services and equipment, will also increase rapidly (by 7.6%), reflecting the uptake of more advanced services and the rapid spread of mobile services in developing countries.”

Computer and Communications Industry Association Vice President and Brussels Director James Waterworth issued a statement on the report, saying: “This report underlines the key role of the Internet in job creation and restoring growth both via the value ICT firms create and the indirect effects on the rest of the economy The ICT sector, especially Internet services with 31% average annual revenue growth between 2000-2011, grew tremendously at a time when most other sectors were seeing flat growth and declines. This underscores the need to promote Internet openness and balanced approaches to intellectual property policy so that the tech sector can continue to thrive and help lead the economic recovery.”